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The Economic Crisis + Peak Oil = An Age of Relocalization?

The financial meltdown, the credit crisis, and ensuing economic contraction—it can all be traced back to peak oil. Author Julian Darley, who knows a thing or two about dwindling resources, believes that high oil prices—caused by supply constraints not meeting demand—are the real cause of the economic crash, and until our new president and his administration face facts, they’ll just be fighting the symptoms rather than the disease.

America and the world wakes this morning to a landscape of new possibilities. We also wake up to a daunting list of problems, most of which are now well known. Yet still there is one problem that was never mentioned by either presidential candidate, no doubt for their own good reasons. The problem is one that has been waiting in the wings since 1859. Or 1846 if you live in Russia. These are the dates of the first oil wells in the world, and they mark the beginning of our dependence on oil, a dependence which is now being forced into reverse. Peak oil and decline has to become a dominant factor in political and business planning because otherwise, the wrong remedies are going to be applied to the wrong causal diagnosis. The world headlines this morning helpfully remind Obama and his new team that they face some severe economic woes. I am sure they are very grateful for that information. What they need to hear about are the underlying reasons for the financial meltdown, the credit crisis and ensuing economic contraction. Jeff Rubin, of CIBC, makes the case strongly in a recent report, that high oil prices – caused by supply constraints not meeting demand – are the real cause of the economic crash. The chart shows that all but one of the last five recessions have followed sharp rises in oil prices. Obama’s new economic advisers will surely also be looking at such graphs, but will they notice how dramatically different the 21st century price rise curve is, and will they ask why? Unless they do, it seems likely that we see economic alchemy being practiced rather than economic realism. In the past that has lead to exuberance and temporary consumer happiness. This time will be different.

Read the whole article here.


The Future Is Hopeless, So Give it Your All

The never-ending national election in the United States, the “surprise” pro-Brexit vote in the United Kingdom, climate change … the list goes on and on about how easy it can be to lose hope in the future.Like many of life’s frustrations, or overwhelmingly large topics, most people in our society find themselves somewhere on the […] Read More

How Carbon Farming Can Save the Planet

Carbon farming alone is not enough to avoid catastrophic climate change, but coupled with new economic priorities, a massive switch to clean energy, and big changes to much of the rest of the way our societies work, it offers a pathway out of destruction and a route to hope.Along the way carbon farming can also […] Read More

Look Under Your Feet for Global Soil-utions

For several years, Chelsea Green has been publishing books that look under our feet for solutions to some of the most vexing problems facing the planet – hunger, drought, degraded farmland and grasslands, damaged waterways, and much more. Those books focus on (mostly) one thing: Soil.  In 2016, we’ve published two more important books that […] Read More

Climate Change & the End of Stationarity

Just as predicting the rise of Donald Trump as a leading presidential candidate stumped even the best of political analysts (looking at you Nate “FiveThirtyEight” Silver), the advent of the Sixth Great Extinction due to climate change and an increasingly potent mix of carbon dioxide in the atmosphere has completely upended how we predict the […] Read More

Use Simple Games to Better Understand Climate Change

How is it that emissions keep growing despite rising concern about the climate change they cause? It is possible to identify several reasons for the paradox, most of which lie outside the scope of The Climate Change Playbook. But one important reason is relevant here: people do not understand the behaviors of the climate system.And […] Read More
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